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Future of the Thailand Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2021

Published: Jul 31, 2016 | Pages: 89 | Publisher: Strategic Defence Intelligence | Industry: Defense | Report Format: Electronic (PDF)

Summary

The Future of the Thailand Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2021, published by Strategic Defence Intelligence, provides readers with detailed analysis of both historic and forecast defense industry values, factors influencing demand, the challenges faced by industry participants, analysis of industry leading companies, and key developments.

Key Findings

- Over the historic period, Thailand's defense expenditure registered growth of 1.19%, increasing from US$5.5billion in 2012 to US$5.7 billion in 2016

- Thailand's military expenditure, estimated to value US$5.9 billion in 2017, is expected to increase marginally to reach US$6.9 billion by 2021, registering a CAGR of 4.06% over the forecast period

- Thailand's military expenditure will be driven by the modernization of its armed forces, the arms race in ASEAN countries, rising political disturbance, and border disputes

- The Defense Ministry is expected to procure main battle tanks, submarines, and transport aircraft

Synopsis

This report offers detailed analysis of the Thai defense industry with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following: 

- Thailand defense industry market size and drivers: detailed analysis of the Thai defense industry during 2017 - 2021, including highlights of the demand drivers and growth stimulators for the industry. It also provides a snapshot of the country's expenditure and modernization patterns 

- Budget allocation and key challenges: insights into procurement schedules formulated within the country and a breakdown of the defense budget with respect to the army, navy, and air force. It also details the key challenges faced by defense market participants within the country

- Porter's Five Force analysis of the Thailand defense industry: analysis of market characteristics by determining the bargaining power of suppliers, bargaining power of buyers, threat of substitution, intensity of rivalry, and barriers to entry 

- Import and Export Dynamics: analysis of prevalent trends in the country's imports and exports over the last five years 

- Market opportunities: details of the top five defense investment opportunities over the coming 10 years

- Competitive landscape and strategic insights: Competitive landscape analysis of the Thai defense industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis

Reasons To Buy

- This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Thailand defense industry market trends for the coming five years

- The market opportunity section will inform the user about the various military requirements that are expected to generate revenues during the forecast period. The description includes technical specifications, recent orders, and the expected investment pattern by the country during the forecast period

- Detailed profiles of the top domestic and foreign defense manufacturers with information about their products, alliances, recent contract wins and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector

- A deep qualitative analysis of the Thailand defense industry covering sections including demand drivers, Porter's Five Forces Analysis,  Key Trends and Growth Stimulators, and latest industry contracts
 Table of Contents

1 Introduction- Future of the Thailand Defense Industry
1.1. What is this Report About?
1.2. Definitions
1.3. Summary Methodology
1.4. SDI Terrorism Index
1.5. About Strategic Defence Intelligence

2 Executive Summary

3 Market Attractiveness and Emerging Opportunities
3.1. Defense Market Size Historical and Forecast
3.1.1. Thailand's defense budget is expected to surge at a CAGR of 4.06% over the forecast period
3.1.2. Increase in arms race with other Asian countries, border conflicts, modernization of the armed forces, and political volatility drive Thai defense expenditure
3.1.3. Defense expenditure as a percentage of GDP to average 1.4% over the forecast period
3.2. Analysis of Defense Budget Allocation
3.2.1. Average capital expenditure over the forecast period will be 45.2% of the total defense budget
3.2.2. Expenditure on Army to increase at a CAGR of 3.98% over 2017 - 2021
3.2.3. Air Force expenditure is expected to increase over the forecast period
3.2.4. Naval expenditure is expected to reach US$1.4billion by 2021
3.2.5. The average expenditure on support services is expected to be US$4.1 billion during the forecast period (2017 - 2021)
3.2.6. Per capita defense expenditure is expected to increase during the forecast period
3.3. Homeland Security Market Size and Forecast
3.3.1. Homeland security expenditure is expected to grow at a CAGR of 5.33% over the forecast period
3.3.2. Rise in terrorist attacks and maritime security issues to drive Thai homeland security expenditure
3.3.3. Thailand faces a high level of threat from foreign terrorist organizations
3.3.4. Thailand has a terrorism index score of 7.3
3.3.5. Thailand faces major threat from various terrorist organizations
3.4. Benchmarking with Key Global Markets
3.4.1. Thai defense expenditure is expected to increase at a slower rate than other Asian countries over the forecast period
3.4.2. Thai defense expenditure is relatively smaller than other Asian countries
3.4.3. Thailand's defense budget as a percentage of GDP is expected to remain the same over the forecast period…
3.5. Market Opportunities: Key Trends and Growth Stimulators
3.5.1. Military IT- Networking
3.5.2. Main Battle Tank (MBT)
3.5.3. Diesel electric submarine

4 Defense Procurement Market Dynamics
4.1. Import Market Dynamics
4.1.1. Thailand's defense imports are expected to increase over the forecast period
4.1.2. Sweden and Ukraine to remain the key arms suppliers to Thailand
4.1.3. Aircraft and armored vehicles dominated the arms imports of Thailand
4.2. Export Market Dynamics
4.2.1. No defense exports for Thailand

5 Industry Dynamics
5.1. Five Forces Analysis
5.1.1. Bargaining power of supplier: low
5.1.2. Bargaining power of buyer: high
5.1.3. Barrier to entry: low to medium
5.1.4. Intensity of rivalry: medium to high
5.1.5. Threat of substitution: high

6 Market Entry Strategy
6.1. Market Regulation
6.1.1. The Thai defense industry is largely driven by the government's offset policy
6.1.2. The Thai defense sector is partially regulated
6.2. Market Entry Route
6.2.1. Defense exhibitions can be used as a direct entry route to the Thai defense industry
6.2.2. Foreign defense organizations venture into the market by partnering with a domestic defense firm
6.2.3. Foreign Military Sales (FMS) to Thailand
6.3. Key Challenges
6.3.1. Partial defense budget allocation by Thai Government discourages investors from market entry
6.3.2. Fewer defense exports pose a major challenge for domestic defense companies
6.3.3. Growth of domestic defense sector is hampered by the existence of indirect offset policies
6.3.4. Corruption and lack of transparency hinders the growth of Thailand's defense industry

7 Competitive Landscape and Strategic Insights
7.1. Competitive Landscape Overview
7.1.1. Saab: Overview
7.1.2. Saab: Products
7.1.3. Saab: Recent announcements and strategic initiatives
7.1.4. Saab: alliances
7.1.5. Saab: recent contract wins
7.1.6. Airbus Helicopters: Overview
7.1.7. Airbus Helicopters: Products and services
7.1.8. Airbus Helicopters: Recent announcements and strategic initiatives
7.1.9. Airbus Helicopters: Recent Contract Wins
7.1.10. Sikorsky: Overview
7.1.11. Sikorsky: Products and services
7.1.12. Sikorsky: Recent announcements and strategic initiatives
7.1.13. Sikorsky: recent contract wins
7.1.14. Northrop Grumman Corp. Overview
7.1.15. Northrop Grumman Corp.: Products and services
7.1.16. Northrop Grumman Corp.: recent contract wins
7.1.17. Lockheed Martin Corp. Overview
7.1.18. Lockheed Martin Corp.: Products and services
7.1.19. Lockheed Martin Corp.: recent announcements and strategic initiatives
7.1.20. Lockheed Martin Corp.: recent contract wins
7.1.21. Leonardo- Finmeccanica: Overview
7.1.22. Leonardo-Finmeccanica: Products and services
7.1.23. Leonardo-Finmeccanica: Recent announcements and strategic initiatives
7.1.24. Leonardo-Finmeccanica: recent contract wins
7.1.25. Daewoo Shipbuilding and Marine Engineering: Overview
7.1.26. Daewoo Shipbuilding and Marine Engineering: Products and services
7.1.27. Daewoo Shipbuilding and Marine Engineering: Recent announcements and strategic initiatives
7.1.28. Daewoo Shipbuilding and Marine Engineering: recent contract wins
7.1.29. Edstrom Helicopter Corporation: Overview
7.1.30. Edstrom Helicopter Corporation: Products and services
7.1.31. Edstrom Helicopter Corporation: Recent announcements and strategic initiatives
7.1.32. Edstrom Helicopter Corporation: recent contract wins

8 Business Environment and Country Risk
8.1. Economic Performance
8.1.1. GDP per capita at constant prices
8.1.2. GDP at current prices (US$)
8.1.3. Exports of goods and services (? bn)
8.1.4. Imports of goods and services (?bn)
8.1.5. Gross national disposable income (US$ Bn)
8.1.6. LCU per US$ (period average)
8.1.7. Market capitalization of listed companies (US$ bn)
8.1.8. Market capitalization of listed companies (% of GDP)
8.1.9. Government cash surplus/deficit as a percentage of GDP (?)
8.1.10. Goods exports and imports as a percentage of GDP
8.1.11. Services imports as a percentage of GDP
8.1.12. Service exports as a percentage of GDP
8.1.13. Foreign direct investment, net (BoP, current US$ bn)
8.1.14. Net foreign direct investment as % of GDP
8.2. Mineral
8.2.1. Mining, Manufacturing, Utilities Output (?Bn)

9 Appendix
9.1. About SDI
9.2. Disclaimer
List of Tables

Table 1: Thailand Defense Expenditure (? billionand US$ billion), 2012 - 2021
Table 2: Thai GDP Growth and Defense Expenditure as Percentage of GDP,2012 - 2021
Table 3: Thai Defense Budget Split Between Capital and Revenue Expenditure (%), 2012 - 2021
Table 4: Thailand Defense Expenditure for Army (? Billion and US$ Billion), 2012 - 2021
Table 5: Thailand Defense Expenditure for Air Force (?Billion and US$ Billion), 2012 - 2021
Table 6: Thailand Defense Expenditure for Navy (? Billion and US$ Billion), 2012 - 2021
Table 7: Thailand Defense Expenditure for Other Category (?Billion and US$ Billion), 2012 - 2021
Table 8: Thai Per Capita Defense Expenditure (US$), 2012 - 2021
Table 9: Thailand Defense Expenditure for Homeland Security (?Billion and US$ Billion), 2012 - 2021
Table 10: SDI Terrorism Index
Table 11: Benchmarking with Key Markets  -  2012 - 2016 vs. 2017 - 2021
Table 12: Thai Defense Offset Regulations
Table 13: FMS deals to Thailand
Table 14: Saab  -  Alliances
Table 15: Saab  -  Recent Contract Wins
Table 16: Airbus Helicopters  -  Product Focus
Table 17: Airbus Helicopters  -  Recent Contract Wins
Table 18: Sikorsky  -  Product Focus
Table 19: Sikorsky  -  Recent Contract Wins
Table 20: Northrop Grumman Corp. -  Recent Contract Wins
Table 21: Lockheed Martin Corp. -  Recent Contract Wins
Table 22: Leonardo - Finmeccanica  -  Recent Contract Wins
Table 23: Daewoo Shipbuilding and Marine Engineering  -  Recent Contract Wins
Table 24: Edstrom Helicopter Corporation -  Recent Contract Wins

List of Figures

Figure 1: Thai Defense Expenditure (? Billion), 2012 - 2021
Figure 2: Thai Defense Expenditure (US$ Billion), 2012 - 2021
Figure 3: Thai GDP Growth and Defense Expenditure as Percentage of GDP, 2012 - 2021
Figure 4: Thai Defense Budget Split Between Capital and Revenue Expenditure (%), 2012 - 2021
Figure 5: Thai Defense Expenditure for Army (? billion), 2012 - 2021
Figure 6: Thai Defense Expenditure for Army (US$ billion), 2012 - 2021
Figure 7: Thai Defense Expenditure for Air Force (?billion), 2012 - 2021
Figure 8: Thai Defense Expenditure for Air Force (US$ billion), 2012 - 2021
Figure 9: Thai Defense Expenditure for Navy (? billion), 2012 - 2021
Figure 10: Thai Defense Expenditure for Navy (US$ billion), 2012 - 2021
Figure 11: Thai Other Category Defense expenditure allocation (? Billion), 2012 - 2021
Figure 12: Thai Other category Defense expenditure allocation (US$ Billion), 2012 - 2021
Figure 13: Thai Per Capita Defense Expenditure (US$), 2012 - 2021
Figure 14: Thai Homeland Security Expenditure (? billion), 2012 - 2021
Figure 15: Thai Homeland Security Expenditure (US$ billion), 2012 - 2021
Figure 16: SDI Terrorism Heat Map, 2016
Figure 17: SDI Terrorism Index, 2016
Figure 18: Benchmarking with Key Markets  -  2012 - 2016 vs. 2017 - 2021
Figure 19: Defense Expenditure of the World's Largest Military Spenders (US$ Billion), 2016 and 2021
Figure 20: Defense Expenditure as a Percentage of GDP of Largest Military Spenders (%), 2016
Figure 21: Thai Military IT - Networking Market Size (US$ Million), 2016 - 2026
Figure 22: Thai Main Battle Tank Market Size (US$ Million), 2016 - 2026
Figure 23: Thai Diesel electric submarine Market Size(US$ Million), 2016 - 2020
Figure 24: Thailand's Defense Import Trend, 2011 - 2015 (TIV values)
Figure 25: Thailand's Defense Import by Country, 2011 - 2015 (TIV values)
Figure 26: Thailand Defense Imports by Category (%), 2011 - 2015
Figure 27: Industry Dynamics  -  Porter's Five Forces Analysis
Figure 28: Thailand's GDP Per Capita (US$), 2015 - 2025
Figure 29: Thailand  -  GDP at Current Prices (US$ Billion), 2015 - 2025
Figure 30: Thailand's Exports of goods and services (? bn), 2005 - 2014
Figure 31: Thailand's Imports of goods and services (? bn), 2005 - 2014
Figure 32: Thailand's Gross national disposable income (US$ billion), 2005 - 2013
Figure 33: Thailand LCU per US$, 2015 - 2024
Figure 34: Thailand's market capitalization of listed companies (US$ billion), 2005 - 2012
Figure 35: Thailand's market capitalization of listed companies (% of GDP), 2005 - 2012
Figure 36: Thailand's Government cash surplus/deficit as % of GDP (LCU), 2005 - 2012
Figure 37: Thailand  -  Goods exports as a % of GDP (%), 2005 - 2014
Figure 38: Thailand's Services imports as a % of GDP, 2005 - 2014
Figure 39: Thailand Service exports as a % of GDP, 2005 - 2014
Figure 40: Thailand - Foreign direct investment, net (BoP, current US$ bn), 2005 - 2014
Figure 41: Thailand - Net foreign direct investment as % of GDP, 2005 - 2014
Figure 42: Thailand's Mining, Manufacturing, Utilities Output (?Bn), 2005 - 2014 



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